One of the biggest challenges organizations are facing today is making informed business decisions based on their data. A recent survey  suggested that less than 50% of all businesses are using data effectively, but 75% of businesses want to get better value out of their data. The main reason for this is the large skills gap in the market for Data Science and Analytics. There are just simply not enough trained professionals to meet the hiring demands in the market.
That leaves organizations with two choices. They can continue to look externally for qualified candidates, with the average Data Science job search and hire taking a little over 6 months to complete, or they can turn to internal employees and offer them practical training on a Data Science skillset which comes with an immediate impact on business intelligence and the ability to set a confident strategy. Employee retention and training continue to be a main concern for HR departments and the current disruption throughout the world does not change this. The only change is that employee retention is not from fear of losing valuable resources to competitors, but through fear of redundancies or even temporary disruption felt in organizations with having to furlough staff. In my mind, an even bigger reason to invest a little in competencies to earn a lot in knowledge!
Investing in employees makes them more valuable and makes your business more valuable. I often refer to Data Science and Analytics as the closest thing we have to a crystal ball; the only difference being that predicting outcomes on strategy by using qualified data from the past and present is far more accurate. Now more than ever, we need to have access to readable data sets about our businesses so that we can mitigate trending downturn, re-focus attention to customers and partners who are hurting as well as identifying through data which strategies are working.
Employees in all functions will benefit from different levels of data science and analytics competency development; all the way from your sales and marketing staff, operations, customer service, technology teams and C-Level. Some will need to crunch data, some will need to make sense of crunched data, and some will need to present the insights.
As a follow up to this short article, we together with the LPI would be delighted to see you attend Preparing for Tomorrow’s Data Jobs on 21st May 12:00pm GMT+1 where emerging technology thought-leader and President of CertNexus, Jeff Felice will share his knowledge on how to get ahead of the curve and inform us on Data Science and Data Analytics learning and development opportunities which we can implement as individuals or as a strategy in our organizations quickly, efficiently and affordably with tools that all of us already have at our finger-tips! Specifically, Jeff will cover the difference between data analytics and data science, the skills needed to thrive in a data-centric world, and how to begin building your data teams.
About James Varnham, Managing Director, Logical Operations EMEA
James has had an active profile in the training and certification industry for the past 20 years. His experience has traversed across private, academic, and public sector where he has held international management roles. His focus now is leading his team in helping Logical Operations’ channel of training organizations, learning institutions, government departments and agencies in Europe, the Middle East, Africa and India by distributing published learning tools and resources to improve competency development. Outside of work, James usual interests are playing tennis and running as well as playing the bass. The lockdown has impacted usual hobbies, and therefore he has immersed himself into the world of virtual reality ping-pong.